See other Immigration Articles
Title: LOW INTEREST HOME LOANS FOR ILLEGAL ALIENS
Source:
WKOW - TV
URL Source: http://www.wkowtv.com/index.php/news/story/p/pkid/21215
Published: May 17, 2005
Author: Staff
Post Date: 2005-05-17 00:31:31 by Uncle Bill
Keywords: INTEREST, ILLEGAL, ALIENS
Views: 131
Comments: 10
WKOW-TV Wisconsin's housing authority, or WHEDA, is the first state in the nation to implement a program offering low interest loans to illegal aliens, or "undocumented workers". Now some Madison alders want the City to implement a similar program. Madison's program would allow the approved applicants to get a low interest loan for up to 95% of the home cost. Other low income residents can get 100% of the cost of a home financed with a Community Development Block Grant through the city. "In a very real way with the modern economy, immigrants are here to stay and I think we ought to be supporting then in trying to live good lives for themselves and their families." Says Austin King. He supports the proposal because he says it's not about immigration, it's about helping people, and illegal immigrants work low paying jobs, pay taxes through a federal ID number, but are not eligible for any benefits, like social security. But State Senator Glenn Grothman of West Bend says the idea is "almost comical". He says it's absurd to offer assistance to people who are in the country illegally. "What type of message are we sending to people?" He says. "We're telling the border guards we don't appreciate their job. We're telling the people that inspect local business that we don't care what they do. We're telling anybody who is waiting to get into this country legally that they're a bunch of suckers for trying to obey the law. It's absolutely comical." Grothman has authored legislation that would force WHEDA to stop granting the loans. He says he is considering adding an amendment that would also ban cities from Madison from offering them as well. 
Low Interest Loans for Illegal Aliens
May 16, 2005
Post Comment Private Reply Ignore Thread
Top • Page Up • Full Thread • Page Down • Bottom/Latest
#1. To: OKCSubmariner, christine (#0)
TOWNHALL.COM The American dream of home ownership, complete with the white picket fence, is alive and well for those who break our laws and break down our fences to get in. Last week, The Washington Post published a rosy front-page tale headlined, "Illegal Immigrants Buy Into Homeowning Dream." The article detailed how illegal aliens in the Washington, D.C., area are successfully hooking up with cunning mortgage brokers and complicit lenders to secure home loans. Despite federal laws making it illegal to violate the borders, overstay visas, and recruit, harbor and encourage illegal aliens, the Post notes that the illegal alien home loan schemes are "legal." Here we are, nearly two years after the September 11 terrorist attacks underscored the need for consistent immigration law enforcement, and the lesson continues to be ignored in the nation's capital. The Post's heart-warming story began: While law-abiding homebuyers must supply airtight proof of identity, legal residence and a Social Security number to lenders, illegal alien purchasers such as Cabrera (a visa overstayer who recently received a green card) need only supply a "taxpayer identification number" (TIN) issued by the Internal Revenue Service. No criminal background check is required before applying for a TIN, which many banks now accept from illegal alien customers as a primary form of identification. Cabrera's broker, Alma Preciado of Metropolitan Financial Services in Silver Spring, told the Post that about 10 percent of her mainly Latino clientele qualify for home loans using a TIN instead of a Social Security number. That's just the tip of the illegal alien homeowners' iceberg. The Post failed to note that Federal Housing Administration-approved loans through the U.S. Department of Housing and Urban Development do not require lenders to obtain proof of citizenship or legal permanent residence. These FHA/HUD programs, primarily targeting minorities and first-time homebuyers, are federally insured and require minimal down payments. A 25-year veteran of the mortgage industry in California confided to me recently: "It boggles the mind to think how many illegal aliens are homeowners in this country thanks to these programs, all fully insured by our government. Because of fear of lawsuits for discrimination I can also tell you that a lender may have a borrower who speaks little or no English who claims to be either a citizen or resident alien and it will not be questioned nor any proof required. Since FHA does not require any such documentation, a lender cannot cite their regulations as a basis for the request as they can on conventional loans." Another easy avenue to home ownership is through the use of bogus Social Security cards. Moneylenders have no access to a verification system to check Social Security numbers before approving loans. A Department of Homeland Security investigator informs me that an ongoing federal probe of FHA/HUD-backed loans found that "a staggering number were approved to persons with false Social Security numbers." The Denver metro area alone accounted for 20,000 to 40,000 of the FHA-approved loans for suspected illegal aliens. "Even if a small percentage of the loans were foreclosed, HUD could be bankrupted," the homeland security official said. A spokeswoman for the U.S. General Accounting Office told me this week that the agency's office of special investigations plans to report on the results of the probe later this fall. But "considering the size of Los Angeles, New York, Chicago, Houston, and other large cities throughout the United States known to be inundated with illegal aliens," says my source, "I don't think the federal government is willing to expose this problem for financial reasons as well as for fear of political repercussions." America: Still the world's home sweet illegal alien home.
did you see this, jt? unbelievable...
From the Los Angeles Times a couple weeks ago: Sharing in the dream - Latinos have become a fast-growing segment of the home-buying market. Countrywide's Optimum Loan Program, launched in June, provides loans to qualified buyers with nontraditional credit, such as rent and utility bill receipts, and whose income is received in cash. ********************** In the meantime, they are making plans to take away homes from Americans: Bill: Seize Homes That Contain 'Illegal' Guns A New Jersey state assemblyman has introduced a bill that would allow the government to seize the home or car of anyone whose property contains an illegal firearm. **********************
Our kids are beginning to learn about the modern economy. Some will
awaken, most won't. The conditioning they've received via school and peer
pressure is stronger in most cases than what we parents offer. It hurts.
BTTT
great cartoon! the expression on ms liberty's face and the caption made me laugh. good to see you again, Uncle Bill.
If you fall on the side that is pro-George and pro-war, you get your ass over to Iraq, and take the place of somebody who wants to come home. This ALONE proves America is run by traitors and idiots.
Dr. Condoleezza Rice said that the “security of Israel is the key to security of the world.”
"According to the Economist global money supply is increasing at a rate of 20% plus; those were the figures for last year and it appears that this year things can only but get worse. Now one can begin to understand why the price of so many basic commodities has taken off and why we are in the midst of a global real estate bubble. They have just launched a new program in California that provides mortgages to illegal aliens. It seems that the big chaps will stop at nothing to keep the housing market alive; its funny they think of the illegal aliens only after the market has reached insane levels. One of the big banks taking part in this is Citibank, so it’s just a matter of time before this program goes nationwide." HOUSING: CONSOLIDATION OR POTENTIAL CRASH? Richard W.
That about sums it up. We've been invaded. Bush and his neocons can't control the national agner any longer. Unfortunately, it's late in the game.
Home loans for illegal aliens!
By Michelle Malkin
December 29, 2003 "Gerardo Cabrera fell in love with the house immediately. There was the bay window in the living room, the fireplace in the den, and -- most enchanting to a man raised amid the concrete of Mexico City -- the woods in the back yard. And so the auto mechanic and his wife, a secretary, decided to pay $200,000 for their own piece of suburban Gaithersburg, a classic tale of immigrants achieving the American dream. Except for one detail: At the time, they were in the United States illegally."
#2. To: Uncle Bill, Jethro Tull (#1)
#3. To: Uncle Bill, All (#1)
#4. To: christine (#2)
"In a very real way with the modern economy, immigrants are
here to stay and I think we ought to be supporting then in trying to live good
lives for themselves and their families." Says Austin King.
#5. To: RLK (#3)
#6. To: Jethro Tull (#4)
#7. To: Uncle Bill (#6)
#8. To: christine (#2)
did you see this, jt? unbelievable...
#9. To: Uncle Bill (#0)
#10. To: Uncle Bill (#6)
Top • Page Up • Full Thread • Page Down • Bottom/Latest